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Level 1
June 5, 2019
Question

I understand that the Savers Credit is a nonrefundable credit, but TT calculated a refund... I don't think that's correct....can you please explain....Thanks, Steve

  • June 5, 2019
  • 1 reply
  • 6 views
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1 reply

Level 12
June 5, 2019

The Saver's Credit is non refundable, but taxpayers who qualify for this tax credit are often eligible for tax credits that are refundable. 

And even though it is non-refundable, by reducing your tax liability, it can increase your tax refund from the taxes you have paid. 

For more information, follow these links:

https://www.irs.gov/credits-deductions-for-individuals

https://turbotax.intuit.com/tax-tips/tax-deductions-and-credits/what-is-the-savers-credit/L3LyopRkK